Baroda (Gujarat), Aug 29: The Institute of Chartered Accountants of India (ICAI) will organise a two-day workshop on International Financial Reporting Standards (IFRS) here today.

The workshop is intended to give an overview of application of IFRS in Indian scenario.

It will focus more on concepts that are relatively new under Indian GAAP and on topics which by and large potentially impact the net worth and profit or loss under more common situations.

Nationally renowned experts having in-depth knowledge, experience and expertise about the IFRS will address the workshop.

Considering the fact that a lot of challenges are faced during the first time implementation of any new standard, a special session will be dedicated to sharing implementation experiences by various consultants and users both large and small.

Soon after this workshop, the ICAI will organise a two-day National Conference on IFRS in New Delhi on September 5-6.

The Institute of Chartered Accountants of India is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of chartered accountants.

During its nearly six decades of existence, the ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards.

It now is the second largest accounting body in the whole world. (ANI)